Bitcoin Price Over 70% Higher Since Recent Lows

Bitcoin price reverses early losses and jumps over 7% as the rebound from March 2019 lows continues for the fourth day in a row. As the coordinated actions from central banks calm investors at least, for now, the bitcoin is the first asset that managed to rebound, adding over 70% from the recent lows. Investors must be careful amid the high volatility and risk aversion as the risk for a sharp pullback can’t be ruled out.

All major cryptocurrencies are mirroring bitcoin move. Ethereum (ETHUSD) is 7.50% higher at 147.00, Litecoin (LTCUSD) is 6.78% higher at $41.59 while Ripple (XRPUSD) is 3.15% higher at 0.1705.

Bitcoin Price Levels to Watch

Bitcoin price is 7.10% higher at $6,620 as the positive momentum gains traction above 6,000. Bitcoin managed to break above the 38.2% retracement, while a close today above $6,500 will give bulls the upper hand for the short term. The technical outlook has improved the last trading sessions, but bears are still in…